Gold zooms to a record high of Rs 30,400

Traders said the trading sentiment bolstered as gold rose to a four-week high in London on weaker dollar after officials from the world's leading economies said they will collaborate to respond to Europe's crisis, boosting demand for metal as an alternate investment.

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Image: A customer tries on a gold necklace at a gold shop in Hanoi.Photographs: Kham/Reuters.

Gold zooms to a record high of Rs 30,400

On the domestic front, gold of 99.9 and 99.5 per cent purity rose by Rs 100 each to set an all-time high levels of Rs 30,400 and Rs 30,200 per 10 grams, respectively.

Sovereigns rose by Rs 150 to Rs 24,250 per piece of eight grams.

Similarly, silver ready spurted by Rs 1,200 to Rs 55,500 per kg and weekly-based delivery by Rs 1,090 to Rs 55,170 per kg. Silver coins also jumped up by Rs 3,000 to Rs 67,000 for buying and Rs 68,000 for selling of 100 pieces.

Image: A salesman displays gold jewellery for the camera at a showroom in the southern Indian city of Hyderabad.Photographs: Krishnendu Halder/Reuters.